Showing category "North American Event-Driven Situations" (Show all posts)
As reported by Reuters on 20-Dec-09, the amendments to the US healthcare bill will exclude the clause that caused IMS shareholders headache over the last couple of weeks and saw the share price dip below the USD 19 level on 11-Dec-09: "A closely watched proposal that took aim at the use of doctors' prescribing habits for marketing purposes was excluded." This should reduce any uncertainty stemming from the healthcare bill jitters surrounding the IMS take-over and reduce the IMS spread to the ... Continue reading ...
We have looked at the IMS Health situation, whose share price dropped more than 18% on Friday 11-Dec-09 before recovering to an end of day price drop of 6%. The price dynamics were attributed to the amendment proposal to the Senate healthcare reform bill from 2 US senators, which effectively would limit the ability of drug companies like IMS Health to capture and use physician prescribing data. We believe that at the current $20 share price, the share is still oversold, and remain confident ... Continue reading ...
On 05-Nov-09 IMS Health Inc, the US healthcare information company, announced it had signed an agreement to be acquired by TPG Capital and the Canada Pension Plan Investment Board for USD 22 cash a share. The agreement was unanimously approved by the IMS Board, and comes after IMS announced on 20-Oct-09 it was exploring a variety of strategic alternatives for the company. The transaction has fully committed financing, consisting of a combination of equity and (principal loan and mezzanine) de... Continue reading ...
On 05-Nov-09, Verenex Energy Inc. announced it had entered into a definitive arrangement agreement with the Libyan Investment Authority pursuant to which the LIA, through a subsidiary, has agreed to acquire all of the Verenex shares issued and outstanding upon completion of the transaction at a price per share in cash equal to $7.09 plus an additional working capital amount per share. The definitive agreement comes (as expected by Panta Capital) after Verenex signed the binding memorandum of... Continue reading ...
After the DoJ cleared the AT&T acquisition of Centennial Communications on 13-Oct-09, the deal got equally approved by the Federal Communications Commission (FCC) on 05-Nov-09. Hence, as anticipated by Panta Capital, the deal has now been completed and settlement is expected this week, to realize the net return of 14.9% (annualized 44%) since our first post at 14-Jul-09 and/or the net return of 8.3% (annualized 50%) since our second update at 17-Sep-09. Continue reading ...
On 18-Sep-09, Verenex Energy Inc (VNX CN - VRNXF.PK), the Canadian oil and gas
exploration company, announced and
recommended a binding memorandum of understanding (MOU) to sell all its shares
to the the Libyan Investment Authority for CAD 7.09 a share plus any
residual positive working capital. A definitive agreement is expected to be
signed by 20-Oct-09, at which time, the Libyans will escrow the necessary funds
to complete the transaction. This offer comes after the Libyans themselves
b... Continue reading ...
On 14-Sep-09 AT&T and Centennial Communications announced that they now expect the $8.50 per share acquisition of Centennial to be completed early in the fourth quarter of 2009. This statement comes after their first delay announcement on 08-Jul-09, stating then that the transaction would be completed in the third quarter of 2009 instead of the first half of 2009. Although the new statement brings further delay to the closing of the deal, the statement shows confidence in obtaining the regul... Continue reading ...
After Oracle Corporation agreed to buy Sun Microsystems (JAVA) on 20-Apr-09 for $9.5 cash per share, the closing of the deal remains subject to both US DoJ and EC competition approvals. Given the presence of significant competition from various participants in every market where both Sun and Oracle operate and compete, we strongly believe that both regulators will ultimately approve the deal. However, timing risk exists on Oracle's statement that it will be able to complete the transaction be... Continue reading ...
Today Centennial Communications (CYCL US), which is in the process of being acquired by AT&T for USD 944m or USD 8.5 cash per share offer, saw a 9.6% drop from USD 8.12 to USD 7.35 on the back of no news. The acquisition has already been approved by CYCL shareholders and remains subject to HSR (USA) and FCC (USA) approval. On 02-July-09, AT&T informed the market that they expect completion and regulatory approvals during the third quarter of 2009. With clearances expected -with or without ... Continue reading ...
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Panta Idea Sample Blog
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